The present invention is directed to an all purpose clip such as for clipping together papers, money, and the like, which may also serve as a key ring. Clips per se are well known and come in many sizes and shapes. One disadvantage of all prior art clips is that the holding force thereof is not the same for all uses, and the holding force thereof is not capable of adjustment. Thus, if the clip be too large for papers desired to be held, a smaller clip must be utilized. Thus, prior art clips do not inherently have any means by which their holding force may be varied to suit the work piece to be held.